The last thing that a beleaguered Vladimir Putin will want to hear is that Russia has now reached the stage where it desperately needs an IMF supported economic adjustment program. Without such a program it is difficult to see how Russia can regain domestic and international confidence in the management of its economy. Absent the IMF, it is also difficult to see how Russia will be able to avoid the imposition of damaging capital controls on its economy.There can be no denying that Russian policymakers were totally blindsided by the recent collapse in international oil prices from around US$110 a …read more
Source: American Enterprise Institute for Public Policy Research
